WRISE Group today (22 November) unveiled the launch of WRISE Prestige Middle East, a new segment which it said "underscores the group’s commitment to democratising private banking services and meeting the evolving wealth management needs of the region".
This expansion extends the group's reach to clients at a minimum investment threshold of $1m.
WRISE Prestige Middle East segment builds on the success of WRISE Prestige Hong Kong, which has since grown to a 250-strong force within 9 months.
It caters to clients who might have previously been underserved by traditional private banking institutions and are increasingly seeking more transparent and hands-on investment opportunities at the same service standards as WRISE Private. Product offerings for WRISE Prestige Middle East will include global securities, structured products, mutual funds, fixed income and insurance.
Asia-Pacific (APAC) remains one of the fastest-growing regions for wealth, with Hong Kong and Dubai fuelling growth across several client segments. According to industry reports, the number of HNWIs in the UAE is projected to grow by 39% by 2026.
Hong Kong continues to strengthen its position as a global wealth hub, with China's mass-affluent households expected to reach 162 million by 2030.
The comprehensive suite of WRISE Prestige services across Middle East will continue to offer clients full transparency, flexibility and greater control over investments at a lower entry point, supported by expert advisory teams in each market.
“The growth of new wealth segments across the globe, coupled with the demand for more tailored wealth management solutions, have driven the need to diversity our wealth management offerings,” says Derrick Tan, group executive chairman of WRISE Group.
“WRISE Prestige Middle East is a key step towards fulfilling our broader mission of building a comprehensive wealth management ecosystem. By offering accessible and personalised services to a broader client base, we aim to empower and support the diverse financial goals of clients at every stage of their wealth journey,” Derrick adds.
WRISE Middle East has seen exponential growth in 2024, driven by its innovative approach to family office wealth management. WRISE Middle East aims to expand the team in Dubai to over 100 by the end of 2025, to better serve its growing client base.
"Our commitment to pioneering solutions and exceptional service for our clients' evolving needs has been instrumental in our success. Through Derrick's award-winning leadership as the 'Chairperson of the Year', WRISE Group has grown our team to 400-strong globally, driving a robust ecosystem that provides holistic solutions for our clients," said Dhruba Jyoti (DJ) Sengupta (pictured), chief executive officer, WRISE Wealth Management (Middle East).
"In addition to being recognised as the 'Most Innovative Multi-Family Office' in Dubai, we have also secured mandates from some of the United Arab Emirates' largest family offices. Looking ahead, we aim to build on this momentum and further strengthen our capacity to serve esteemed clients across the region."
The group also continues to expand its footprint across Asia Pacific and beyond. As part of the group's broader 360-degree growth strategy, services under the WRISE Prestige segment will be introduced according to each market's client needs, delivering tailored solutions that address their specific financial aspirations.
